My critique of Mark Carney's critique of central bank digital currency, or CBDC. He thinks the stuff will be dangerous, I think it could suffer from irrelevance: https://jpkoning.blogspot.ca/2018/04/critiquing-carney-critique-of-central.html …
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You are a tiny minority who have frankly extreme views. Why do you think the rest of the world will agree to accept what you define as "money" in preference to what democratically-elected governments define as "money"?
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Markets are better than Officials in figuring out which money, it, the Market, likes better. The current fiat system is our only choice as we are brought into this reality. Alternatives & competition is good for progress.
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Were you part of the vote in 1971 when Nixon decided to redesign the monetary system? Exactly.
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As I'm British, and at the time was very young, clearly not. But then the decision to link the USD to gold and my country's currency to the USD was taken long before I was born. How far back do you want to go?
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Don’t you think experimentation and innovation of several financial units competing against each other in cyberspace is a great idea to try to build even better money?
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I do, actually. But that isn't what is going on right now. What is happening right now is an attempt by goldbugs and Austrian economic cranks to take over the monetary system. It would be the triumph of shamanism.
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No one is forcing anyone (like fiat does). You can participate or not out of your own free will! This is simply an alternative. You can stick to fiat, but history shows that Gold is superior to copper pieces. Similary Bitcoin is superior to previous forms.
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History doesn't show any such thing, except to those who want to believe it and are therefore prepared to ignore or discount large swathes of historical evidence to the contrary - as
@saifedean did. - 9 more replies
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